Sports Business Journal today reports that the Nets are the first NBA team to sign a practice jersey sponsorship, which will put the Parsippany, New Jersey-based PNY Technologies' logo on the team's practice uniform.

Following the NFL's recent acceptance of practice jersey patches, the NBA this off-season announced that teams would be able to monetize the space through their own local deals.

While the PNY-Nets deal is an extension to an existing six figure sponsorship, Chris Heck senior V.P. of team marketing and business operation told SBJ that teams will use the new inventory in a variety of ways which include "selling to a current high-level partner, placing a special anniversary season logo or cause-marketing patch, or selling to a new partner that is interested in making a big splash."